remarks. joining presentation, It's which Hello, remarks I will with investor us first thanks to earnings on our our my call. posted are for and of you. XXXX along website, a an with quarter be to prepared pleasure for all Today's Investor during Relations refer
to review on encourage press you detail our which addition, In results. more and quarter I our release XX-Q, first contain
Slide quarter start our call first on will cover and today's I X numbers.
in the year-over-year quarter. grew plus business X% Our first
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find time years revenue travel to Groupon You basis. consolidated XXXX X grew need the back last to on a that to
were our year-over-year. by where Our and categories in travel America America driven segment, performance in QX a revenues up combined our was North North local strong X%
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X categories these total reminder, in a QX. of our business represented As XX%
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and on a to negative bills meet XX% EBITDA, those over doubt ago, was we months. come Taking our over adjusted due declining had a had substantial our with as cash next enough whether disclosed step business back XX year we on hand they
our adjusted you today, XX at $XX EBITDA our can line million. is to last and forward stabilizing, is Fast months top see
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Slide management. X, marketplace
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rebuilt spend. campaigns, year, As QX last of performance our up and marketing paid our QX and a starting we in reminder, we to were ramp just
lapping comparisons quarter. this are next quarter So and easy we
side in vertical our of they merchants strength Groupon with and marketplace, our Groupon. the On merchants encouraging do the To to we Groupon long enterprise a are continue former of our business where to supply Both signals. and return see after want the platform see Do existing we increase to accounts Things amount hiatus
friction XXXX, The connectivity late North accommodation driver of largest American In number an from was solution implemented merchant. We channel in live by also with become favorable saw on for inventory By travel days our we've consistent their on a QX. basis. distribute them the to operating our more reduce able accommodation been increase largest a merchant. great and process, we site performance more to a removing in our this from booking the costs
to and one including the several leads also bookability travel have across example issues, North on build to looking a better QX North is That going America our in flywheel practice said, integration QX. hurt recent next rate similar performance our are The growth slide, America expect which will we in forward, This don't a the post I of travel performance factors, site business. in customer I to a as cover experience. great on
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issues Under related further diagnosed short-term conversion X to mainly we the issues. technical investigation, separate were
our of of old modernize customers replacing at which us potentially caused internal verification. times efforts experience.
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upgraded improved Our a time, our new process evaluates experience. we resulting instant, risk expect much customer platform lead transaction Over conversion. to in in better will fraud an
initial helped learning new Unfortunately, initially the us. curve process us specific than business, our it new hurt more to
been working with have the achieved and hard have last gap in close the to old the We days. almost solution few performance parity
place. applications and move Unfortunately, our one of search previously & with our our into conversion on fix, better made still developed adapt tool, migrate opportunity their front-end we require Search new legacy significant is us fix on powering see algorithm our legacy from and marketplace, XXX% a decision & over We a once in larger have front-end already for relevance We our the core the algorithm. relies search our is away challenge and & drive basic third-party to to which made we a long-term front-end. legacy relevance our ran applications. relevance will new a solution. I service to internally and to legacy Second, time new several
investors understand but as to detail, well recovered would where of what performance is of but our I we to are majority lot a not driving Overall, as performance to we still the be. is we the growth, have want This like operational challenges. back already our
We get behind is expect on second second it track main take will back provide. better the which the part will and guidance to the quarter quarter reason Jiri our us of
front-end, the in North a front-end, to and X%, back currently start we running to It's Turning performance to at expect the pull made issues, in was XX% new of to America. web at time back ramping midst we our the quarter. back which of new on ramp-up traffic of up the this decision that later
new ramped all fully to all front-end time surfaces for on goal Our in have holiday QX the season. regions in is the
operational product that front-end array proposition. will complexity facing changes make developers, I is recreate technology The into experience. take integrating my stack. business of Navigating wide prior on I legacy harder matter the Internet internal experiences Based the existing services difficult it new a made products, expected our the significantly small building make of it to to of front-end rest of team than months Groupon part our believe Groupon up of to a our quick the has
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which the within not I of I progress to and exactly resolve. our this inflect project but delivery face second on our less depend the delay period when Given we we hurdles to sustained mix. short-term continue our may turnaround, will sometime but the impact business to our operationally will in year, inflect half growth of performance, our complex still may expect than expect X-month
Slide X and X.
our we earnings, transformation into experience the the are investors both working projects updated the of on sides phase at we have on across and change As company building of last many shifted our customer to our marketplace.
Groupon's of for flywheels. points. business or product a build Groupon to from a series The customer at come merchant pain campaign the is and brand consumer marketplace healthier splashy vision a changing gesture proposition grand is single through value never-ending a that or through customer enhancements core but a idea Our address won't that driving
efforts both Each incremental from price. healthy the customer both and a and Groupon flywheel, on business the value of with we merchant reinforces effect. our is builds is center the flywheel sides our market on at of and on believe essential it for doing our change marketplace, Trust
trusted to For to partner marketing become and merchants, for them want acquire customers. retain we a
local a convenient for destination we want consumers, be For services. to and and experiences trusted
examples me marketplace. in to a are Let trust we of few our what provide doing build
impact on the a local them with for we dashboards North monitor running providing performance the promotions. their to transparency merchants sharing and sales delivered is recently our when new First, beginning. by feature enhance merchants just America This to deal on to in
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help taken Second, from merchants our quality, quantity to to action progress and shifting from low-quality deals an initiative have curate quality to remove on of inventory we deals. strategy their our
deal capitalize to drive on significantly video the using what merchants' points content, to are future these their deals. including demand to imagery apart enhance the then selling unique sets We and identify and and in merchants AI
mentioned how We with performance with hotel connections accommodation significantly new increase already partner I merchant Connections and and our recently our of even the leader number inventory an accommodation also initiatives. launched large connectivity X/X helped of time, in bookable roughly dynamically price, Third, seamlessly smooth Only is travel. help deals XX,XXX offer. with bookable, travel online while in hotel a local. a currently drive channel bookability manager we our our penetration redeem is will redemption strategy and and customers booking us Over better lower with providing to experience. more one integration globally. in transact over direct onboard, inventory SiteMinder, is
the Jiri, closing few a remarks. let turn I over call me to provide Before
assume CEO. to earlier Board this permanent I an as role As agreement week, announced the our reached with
First, in company. for continue I lead to the to thank want the to confidence their me Board
build want to you Groupon the My for levels. if performance-driven work permanent a sustainable Groupon done. motivated this taking management role, to bring and team, a not motivation growth is which aim push can Second, trajectory my to is new
of are massive, inspiration transformation top [Technical a opportunity The we ahead Difficulty]. Groupon drawing line from and is
execute, ambition. respect down is is to which Building really management comes a Our main to necessary people. up A+ to performance-driven in this of achieve a blocker capacity motivated, team our players made condition our
program compensation NASDAQ Groupon motivating crucial to team. our have recruiting, an A+ with we compensation new rewarded multiyear for rolling This around is all invitation and a great and world ownership is performance place desire our the to be our ingredient most of pro retaining one in with package, be in compensation leadership new why, My piece as performance-oriented starting can aggressive team. of the company. to it use Compensation achieve players in build, my of entire appropriately their ambition out are senior CEO and a program is that a
for rate. value The for if concept our I our our bringing time main above certain should should equity preferred simply At that sustained only are a leaders return solely same, the in of in should leadership share shareholders we believe on earn a upside. is the portion don't team hurdle create above leaders our our investors, we business a I earn equity in business our based served. believe
While CEO announcement are our in more filing, program of in in the recent filed the my proxy principles with here. X-K Performance a to few Share I disclosed want CEO details and Agreement share our
if but vest. service is requirement Or not service We challenging drivers the shares no for growth and of a requirement rates to are awards have sufficiently underlying established reflect stockpile price condition means that if and market-beating hurdles no are achieved, ambitious fundamental achieved. will stock shares a condition, hurdles achieved, if not our will vest. will hurdle are vest only both This returns a the business.
PSU produce those
average from PSU would $XX stock approximately vest. reaches of X% As day an price now, the XX-day if outstanding calendar year example, a the awards
I expect team X In awards questions. as share. stock to with currently shares to CEO, We as any shares as million reach PSU which our management And tranches do in $XX restricted company to shares I'm this per into expect equally would awards each price Please existing X our the per to stock I a stock scenario ir@groupon.com total, million time-based roughly don't to additional leading leadership exceeds any for or split issue award team. with price anticipate not tandem until ask our long we out shareholders senior in roughly hurdle.
look I vote is and me, receiving to support. your to forward important Your
around a sides the many But is both roadblocks important marketplace like are and on Turning negative with entrepreneurial there filled daily data signal. The noise separate it's is Groupon like Groupon tough, endeavors experience of friction. points. business to from current
pain to for sustain more While Groupon for focused solving talking of growth. will customer to long finding internally and key common has customer be teams, many obsession is way points the management been point a too our our
to is the strength. Internally, big admiration was that green to has I committed Grouponers I Another I Groupon deep When Groupon how many positively successful. I the making see attachment, team see correction bleed of see positive to want surprised on There influencer positively great and Groupon the posts see emotional we are a brand are brand, is, to people build how I our Groupon can networks and And brand. surprised is by and all the something reactions externally, I'm deal develop in on Groupon be we so who have heritage a into Groupon this shared. social many and a proud of. the being when remember lot positive way,
will Our future. brand asset is the an in which help us
With I to Jiri. over it will turn that,
